Qualified Business Income (QBI) Deduction (§199A) – The Ins & Outs (C63576)

Log In to Register

Cancellation Policy

*Please note that this course is from a third-party vendor, ACPEN. We strongly recommend registering no later than 24 hours before the course begins.
Please contact Anne Taylor if you do not receive the event logistics via email at least 24 hours before the course begins: [email protected] or 1-877-602-9877.
Thank you.

If you register less than 20 minutes before the event your access to the event may be delayed.

Date(s):

06/19/2024

Registration Open:

12:00 AM - 9:00 AM

Time:

9:00 AM - 4:39 PM

Facility:

 Online

Meeting Type:

Courses

CPE Credit:

8.00

Field(s) Of Study:

Taxation (8.00)

Level of Knowledge:

Intermediate

Price:

Member: $335.00
Nonmember: $435.00

Individual Discounts:

Not Available

Group Discounts:

Not Available

Overview

  • Once participants have completed this session, they should be able to calculate and explain the QBI deduction to their clients, colleagues and employees.

Highlights

Detailed coverage of calculating the combined qualified business income amount (i.e., QBI component and REIT/PTP component) Determine what trade or businesses under §162 are eligible for the QBI deduction (i.e., rentals and specified service trades or businesses (SSTB)) Discuss how the 20** QBI deduction (i.e., QBI component) is subject to a wage/capital limitation and SSTB income is phased-out for taxpayers with taxable income above the inflation adjusted threshold amounts Walk through the simplified QBI Form 8995 (i.e., taxpayers below the TI threshold amounts) and detailed Form 8995-A and related schedules Determine what wages and unadjusted basis immediately after acquisition (UBIA) are for those subject to the wage and capital limitations Look at what the definition of QBI is and what items are effectively connected with that trade or business (i.e., self-employment tax, health insurance, retirement plans) Review the aggregation rules for the QBI computation and both the entity and individual level Walk through the reporting responsibilities of partnerships and S corporations to their owners on the Schedule K-1s Explain how the modifications to the net operating losses (NOLs) and §461(l) excess business loss limitations affect the QBI computation

Speaker(s)

Prerequisites

Background in individual and business income tax law